Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi.
Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.
The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included.
Features + Benefits
Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi.
Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.
Coverage of inflation and monetary policy reflects the latest work by researchers and the Federal Reserve.
Early coverage of long-run topics in chapters 3-7 reflects a commitment to modern macro theory, followed by an equally in-depth analysis of short-run issues in chapters 8-11.
A unified framework uses a single model, built from a set of core economic ideas, to introduce the macroeconomic theories and concepts.
A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way.
Real-world applications connect theory to practice, helping students make active use of the economic ideas in the text.
Applications show students how theory is used to understand real-world macroeconomic issues.
Boxes draw from current research, highlighting interesting new developments and topics in the field.
In Touch with Data and Research boxes ask students to find and interpret macroeconomic data, like economists would in their careers.
Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas. Summary tables and extensive end-of-chapter problem sets help to reinforce learning.
I. INTRODUCTION
1. Introduction to Macroeconomics
2. The Measurement and Structure of the National Economy
II. LONG-RUN ECONOMIC PERFORMANCE
3. Productivity, Output, and Employment
4. Consumption, Saving, and Investment
5. Saving and Investment in the Open Economy
6. Long-Run Economic Growth
7. The Asset Market, Money, and Prices
III. BUSINESS CYCLES AND MACROECONOMIC POLICY
8. Business Cycles
9. The IS–LM/AD–AS Model: A General Framework for Macroeconomic Analysis
10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics
11. Keynesianism: The Macroeconomics of Wage and Price Rigidity
IV. MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS
12. Unemployment and Inflation
13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
14. Monetary Policy and the Federal Reserve System
15. Government Spending and Its Financing
Appendix A: Some Useful Analytical Tools
Glossary
Name Index
Subject Index
Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.
The main objective of the eighth edition is to keep the book fresh and up-to-date, especially in light of the recent crises in the United States and Europe and many new tools used by the Federal Reserve in response to the crisis. To reflect recent events and developments in the field, revisions have been made throughout the text, and additional new applications, boxes, and problems are included.
Features + Benefits
Abel, Bernanke, and Croushore present macroeconomic theory in a way that prepares students to analyze real macroeconomic data used by policy makers and researchers. With a balanced treatment of both classical and Keynesian economics, the comprehensive coverage makes it easy for instructors to align chapters to fit their own syllabi.
Students in this course often struggle to see how the macroeconomic models compare to one another, and fit into the big picture. This text uses a unified approach based on a single economics model that provides students with a clear understanding of macroeconomics and its classical and Keynesian assumptions.
Coverage of inflation and monetary policy reflects the latest work by researchers and the Federal Reserve.
Early coverage of long-run topics in chapters 3-7 reflects a commitment to modern macro theory, followed by an equally in-depth analysis of short-run issues in chapters 8-11.
A unified framework uses a single model, built from a set of core economic ideas, to introduce the macroeconomic theories and concepts.
A balanced presentation of both classical and Keynesian economics allows students to see the complete picture of economic theory, and allows flexibility for professors to teach the course their way.
Real-world applications connect theory to practice, helping students make active use of the economic ideas in the text.
Applications show students how theory is used to understand real-world macroeconomic issues.
Boxes draw from current research, highlighting interesting new developments and topics in the field.
In Touch with Data and Research boxes ask students to find and interpret macroeconomic data, like economists would in their careers.
Learning tools for students aid comprehension and application. Key diagrams in each chapter help students identify the most critical ideas. Summary tables and extensive end-of-chapter problem sets help to reinforce learning.
I. INTRODUCTION
1. Introduction to Macroeconomics
2. The Measurement and Structure of the National Economy
II. LONG-RUN ECONOMIC PERFORMANCE
3. Productivity, Output, and Employment
4. Consumption, Saving, and Investment
5. Saving and Investment in the Open Economy
6. Long-Run Economic Growth
7. The Asset Market, Money, and Prices
III. BUSINESS CYCLES AND MACROECONOMIC POLICY
8. Business Cycles
9. The IS–LM/AD–AS Model: A General Framework for Macroeconomic Analysis
10. Classical Business Cycle Analysis: Market-Clearing Macroeconomics
11. Keynesianism: The Macroeconomics of Wage and Price Rigidity
IV. MACROECONOMIC POLICY: ITS ENVIRONMENT AND INSTITUTIONS
12. Unemployment and Inflation
13. Exchange Rates, Business Cycles, and Macroeconomic Policy in the Open Economy
14. Monetary Policy and the Federal Reserve System
15. Government Spending and Its Financing
Appendix A: Some Useful Analytical Tools
Glossary
Name Index
Subject Index